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friendship with steve jobs. >> he was our edison, he was our picasso. >>> and are you saving enough for retirement? how to boost your bottom line, especially if you're nearing that magic number. "the wall street journal report" begins right now. >> this is america's number wall street journal report." now maria bartiromo . >> here's a look at what is making newsing as we head to a new week on wall street. a crucial report came in better than expected. the september jobs report showed the unemployment rate fell to 7.8%. the best number since january of '09. the economy created 114,000 new jobs for the month in line with what economists were looking for and job creation numbers for the two previous months also revised upward. after a mixed start to the week the markets bounced back after positive economic data and what some called a romney rally following the presidential debate. the market was mixed, though, on friday. the auto sales are powering on an annualized basis, auto sales hit 15 million units, the best number since march of '08. gm and ford posted flat numbers but chrysler,
on genius. it's been a year since the death of steve jobs. has apple gotten past the tragic loss, or is it steel relying on the ideas of its late ceo? >>> and, numbers game? former labor secretary elaine chow reacts to critics claiming something is out of whack with the drop in today's unemployment rate. >>> also, no room for a view. why did ikea exclude women from its ads in saudi arabia? brilliant marketing plan or a giant misstep? we'll assemble the facts coming up on the "closing bell." at optionsxpress we're all about options trading. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - from income to risk management to diversification - you'll have the tools to get
's future without his close friend steve jobs. and interview you won't want to miss. joining us coming up. meanwhile, let's look that the reversal on wall street. yes, we closed lower, but it was well off the lows of the afternoon. the dow jones industrial average down 0.25% this afternoon. a come back in apple, a handful of technology names. nasdaq finished positive, reversing its earlier losses with a gain on the session of 6 1/2. the s&p 500 also higher on the session. there's a look at treasuries here with yields fractionally higher on the day. as you can see there, yields moving lower and the price moving higher, pardon me. let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was ap
of the death of steve jobs. tim cook paying tribute to jobs on the company website saying the greatest gift jobs gave to the world is apple. >> added last month, but the big surprise is that unemployment rate falling to 7.8, dropping below 8% for the first time in three years. you six, unchanged? i think at 14.7, but the timing so critical ahead of the election has people not trusting the data. >> i trust in the data. i've trusted in the data for years. i don't think it can be massaged. they get it wrong, but they get it wrong for both teams. look, the report's good. hours worked up, pay up, july and august revisions up. you want to look through it because you're political? i can, i'm not political. trying to make money here. >> i'll go with you. >> thank you. >> know we hear a lot about conspiracy theories. i suppose that's something to be expected certainly if people are partisan one way or the other, but we have to go with the data. not bad. not great. let's not forget we had 1.3% in the second quarter. it's not as though we're steaming along here, but the revisions were pretty strong. >
no appetite in that risk. you are going to kill what little recovery we are seeing in the market. >> steve, let me get your take on private label and these short sales and this smaller program. what do you think? should the government get out of the way? >> it should have gotten out of the way years ago. probably 45-50% has recovered half of its value. how about that happen? the over arching thrust has been to keep in place two year defaulted way under water borrowers to subsidize them and thus it has prevented market clearing processes and delayed the recovery. we need to get out of this now. it can work here. mr. bernstein's remarks remind me of those in 2009. after the stimulus we are going to have unemployment go above 8%. it went to 10% with the stimulus. >> i came here to listen to stephen make some sense and he has n't yet. he may be one of the only guys out there that doesn't realize how private investors have completely avoided the market. if you look at non agency mbs it is up from last year. >> jarod -- >> you should know that the recovery is based on cash investors and those wh
a former apple executive who worked closely with steve jobs will join our guest host carly fiorina to talk test success and lessions learned. >>> time for your "squawk box" history lesson. what year did "squawk box" debut? logon and like the facebook page. we're posting classic moments all week long, receive updates and post your comments about the show. "squawk box" on cnbc, and on facebook. numbers... ...and listening to your instinct. duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and investment banking services. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. between listening to the numbers... ...and listening to your instinct duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and inv
for all tax deductions across the board. sure, steve. the upper end people would have a problem across the board. >> i like this idea a lot. i just heard about it an hour ago. but i have always believed as a supply sider that tax deductions and credits are termites in the tax code. if you can cap them, it is a sane thing to do and something that howard dean should like because it is progressive. >> steve, what i want to know, if you are in favor of limiting these kinds of deductions, then how about getting ready of the oil depletion allowance for oil companies? >> i think that is something that every manufacturer gets. that is anexpense. when you are talking about writing off a 2 million home i'm not in favor of that. >> do you realize this is the first time that we have ever agreed on anything? >> you know what, this is the right approach to go, larry. i think that mitt romney has opened up an avenue to pick up in the polls here. this plan is evolving into a flat tax. this one piece has legs to it. it has been out an hour. we can't really say. but what about the enormous cu s s in tax
the ceo and they replaced him with steve bennett, a board member who has taken over as permanent ceo. he was the ceo in another company. the company grew from $1 billion in sales to $2.7 billion in sales. he also knows how to increase margins. in the first five years as intuit's ceo, the margins expanded. bennett is the ceo that symantec needs. he is saying all the right things. in the first day on the job, he said he conducted 90 to 120 day review of the business. he wants to come in there and figure out what needs to be changed, throw out what doesn't work. bennett's words were music to the market's ears. in response, they went up in a straight line. shot from $13 to $17 within two weeks. $19 after six weeks. i've been waiting. even better, within a week of taking the ceo job, bennett disclosed he made a big insider purchase. he bought 89,300 shares. talk about a morale booster. bennett wouldn't be spending $1.4 billion worth of stock if he didn't think the company was going to turn around. he would spend $100,000 but not $1.4. now ever since the old ceo got the ax, we've been waiting
get a preview with our market panel right now. keith springer with me along with steve wood and mandy drury. thank you for joining us. let me get your take, steve. on the jobs report on friday, what should we expect? >> i think it's going to come in lighter than the adp. the adp has been a poor indicator of the jobs number. i think there's a reason the fed gave us qe-3, because they saw the softness in the labor market. i think it could come in a little on the weak side. more importantly, the official jobs number is the revisions backwards. they've been going back through previous months and knocking down those numbers. i think i wouldn't be surprised if it came in a little soft. >> kate, do you agree with that? if so, is this priced into the market? >> yes, absolutely priced in, maria. great question. what they're going to expect is for it to be terrible. if it isn't terrible, we'll see a rally. what matters most to this market is earnings. we're in pre-earnings disappointment season where we're going to float a little bit until earnings come out. we've seen a friend where earnings h
of that, our senior economics reporter steve leisman. steve? >> sue, thanks very much. sue, this number is a product of simple math. but whether it's telling us about the real strength of the job market is something investors and the fed are going to have to think long and hard about. take a look at how we got here. first a little bit of the math. the unemployment rate is calculated by essentially taking the number of unemployment and simply dividing it by the labor force. plug in the numbers. 7.8% unemployment rate gives us -- calculates from 12.1 million unemployed divided by the 155.1 million labor force. you can do that at home, if you like. and now here's what happened this month. okay? the number of unemployed dropped by nearly half a million. down by 456,000. the number of employed in this household survey up by 873,000. but wait, because the one thing we're watching here is the number of people who were employed but were part-time but they wanted full time work. we call it for economic reasons. up by 582,000. that's the third september surge in a row. some people suggest there i
is will the headline 7.8% do anything to slow down mitt romney's rise? let's talk. igor volski, and steve moore. good evening, gentlemen. steve moore, it is possible that the economy is doing a little better or did better in september than people think. i don't want to defend the number but the bureau of labor statistics say the economy is not as bad as some people think. >> it was a decent number, no question about it. barack obama got his four-year wish list. he got that 7 in front of the unemployment rate number, which he's wanted for a long time. i'll say what i say in our editorial tomorrow. the labor market still stinks, larry. this is a lousy labor market. we still have 14.6% people who are unemployed when you include the people who can't find a full-time job, when you include all those people who dropped out of the labor force, that's 23 million people. i wanted to emphasize one thing with your conversation with jack welch. jack was right about one thing. there are only 10,000 added in terms of government jobs in the new report but all of the additional -- the revised upward jobs numbers for
that is wrong. steve bomber before bill games was viewed as a suit. steve jobs was viewed as bono. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaac son's by of fee of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. go google has the momentum you could have on your cell phone and that is why the stock is going higher. the gee fault go to tech name is google. it is the financial equivalent over who is cool. google is and microsoft isn't. which is why google up here is the one to own. stay with cramer. in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male an
the value of cool. here is why that is wrong. steve ballmer before bill gates was viewed as a suit. steve jobs was viewed as bono, bond and beethoven. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaacson's biography of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. google has all the monetizing momentum you could have on your cell phone and that is why the stock is going higher. the default go to tech name is google. it is the financial equivalent of a judgment over who is cool. google is and microsoft isn't. the gulf is growing, which is why google up here is the one to own. stay with cramer. >> reports after the bell. i tell you i do not comment or recommend stocks on a takeover basis. it is going to send sprint further down. jim, are you abandoning sprint?
, if steve jobs were alive, would he fire tim cook? we'll explore that idea in our boss segment. and we'll go from ford to gm to chrysler with one of the best septembers in years. >>> and we'll take one more look at futures on this tuesday morning after that rally that did happen on the monday that got chopped in the street. '"squawk on the street" will be back in a minute. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 depos
but next on "power lunch," giving an exclusive to our steve liesman. lael brainard, u.s. undersecretary for international affairs, just ahead. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> too europe now, where there is fresh concern about spain and whether and when it might ask for bailout and if so how big it could be. our next guest is part of an exclusive club and knows probably more about the european crisis and how it's impacting our economy than just about anybody. so how exclusive is her access? look at this picture from the g-20 summit two years ago, lael brainard is the key u.s. representati
to know what your thoughts are on dog resources. >> rethey have the -- let's go the steve in wisconsin. >> i'm interested in a again anywheric -- >> we like hot spirit. let's go to david in michigan. >> caller: hey, jim, i'm a big fan how are you doing? >> i'm good, how are you? >> caller: good. i want to see where navagold. i prefer the gld if you want to own cold. i felt that the company on p friday, on a same storm, i think they're a little aggressive. if gold really plummets, those people will stop drilling. be careful. let's go to bo in kentucky. >> caller: thanks for taking my call, i love your show. that's why i worry about it. let me add another thing e this is a company that people only buy on a takeover basis. i recommend them on a fundamental basis and i don't see any fundamental basis. let's go to greg. >> caller: how do you like crest core, they basically blew it. now they added this dif denlt and that's krisk but they were not as -- let's say they really made you feel great about the situation before hay should have. let's go to sam in missouri. >> caller: quick question,
, where does he run after last night's sweeping win? let's talk. here now is democratic strategist steve mcmahon. and then cnbc contributor geoff jennifer rubin, author of the "washington post" right turn blog. jennifer was it a game changer for the whole presidential race? >> it potentially can be. what has to happen now romney has to build on that day after day. the difficulty they've had, this was true in the primary as well, they have a few good days and then they get off message or they fumble the ball a little bit. if they can string together one good day after another they only have to do it 33 more times they can get it done. >> growth, jennifer. growth, tax reform, lower the base, broaden the base, jobs. he had the kudlow script last night. >> he did. what is so telling is that the president is so thrown off balance he's insisting that romney has changed his plan because he wasn't giving the obama talking points. >> well now hold on. >> the democrats have mischaracterized romney's plans up the ying yang. so when he comes forward and tells what his plans are it's a shock. they th
:30 eastern the all important jobs number is out. steve liesman, to get on tv he'll do anything, he stands up whenever we ask him to. he gives us a preview in a minute. you got your mikes on? >> i have my mikes on. >> and after the wall market reaction. >> you won't stand up. >> i will not. the economy and your money, ed lazear and austan goolsbee. i'm glad we got ed to match up with austan. in the past we just have austan. we'll get to becky who gets to sit, with the morning headlines. comfortable over there in. >> it's very comfy. your my partner and in solidarity i'll stand for you, joe, ready, just for you. good morning, everyone, we've been watching the futures and they are slightly higher ahead of the big number we've been waiting for. dow futures up by 21 points, s&p futures up by two points. everything is waiting for 8:30 when we get that jobs report. let answer get to some of your morning headlines. morgan stanley is planning to cut more jobs and slash bonuses. the ceo james gorman tells "the financial times" those are necessary to improve value. he is sympathetic the industry is ove
economics reporter steve liesman is here to explain. the mystery, what is it? >> it's really the product, as you know. we have two separate surveys. the household survey, that's where we get the unemployment rate. it's the result of a nationwide survey of around 60,000 people. sounds big, right? well, it's historically very volatile. the payroll survey, that's where we get the number of jobs, the 114,000. that comes from a survey of around 140,000 employers. they submit actual data. it's favored by economists because it's steadier. but guess what? it's also subject to revisions. according to this report, we had 114,000 jobs in september. the household survey showed with 7.8% unemployment, it came from being 12.1 million unemployed divided by 151.1 million people in the labor force. they count themselves as available for work. what happened? what happened is the number of unemployed in this survey fell by 456,000. the number of people who had jobs went up by 873,000. that came partly, though, from an increase of people who are working part time for economic reasons, and there may be a sea
. now, it's one year since steve jobs passed away at the age of 56 after a long battle with cancer. carl quintanilla that been looking back at his life. >> it may go unmatched for generations. >> a truly magical and revolutionary product. >> steve jobs introduced one grainy innovative product after another. consider 244 million iphones sold, 131 million desktops and laptop, 84 billion ipads, 350 million ipods. and while at apple, jobs had his hand in every part of every creation. >> steve jobs was not really an engineer, not really a programmer. he was very hands on from the design, the execution, the menus, the fonts, the colors. >> i didn't want to tell you i had steve martin on my ipod. >> jobs created a whole new way to appreciate music, using software he designed on devices he designed at a price he set. >> he wanted to sell songs, not albums. selling songs in many respects was -- >> jobs the inventor, the man who changed mobile communication, and digital entertainment, may just have been the greatest retailer of all time. >> apple stores are the single most profitable store on a sq
and the best bakken. who can beat that? let's go to steve in wisconsin. steve? >> caller: hey, jim, boo-yah too you from kenosha, wisconsin. >> sweet! what's up? >> caller: hey, i'm interested in hospira, hospira, the generic -- >> we like hospira. >> buy, buy, buy! >> thinking about that kind of company. let's go to david in michigan. david? >> caller: hey, jim, i'm a big fan. how you doing? >> all right. how about you? >> caller: good, good. i was just curious where you see going from here. taking a big hit. >> i regard it as one of the worst investments i've ever made. i do prefer the gld if you want to own gold. i have to tell you i felt that the company on friday, i think they're a little aggressive, frankly. i think they're a little aggressive there are things that can go wrong. if gold really plummets, those gold miners will stop drilling. they will stop getting gold. and what will happen is the company's earning treatment will dry up. be careful. let's go to bo in kentucky. bo? >> caller: hey, jim, thanks for taking the call. love your show. computer sciences. >> this is a company i don
raised in housing. steve leisman and diana olick are all over the data points. steve, the latest jobs data, is it changing in any way the expectations for this friday's employment report? >> not a lot. economists would like to go from the adp data to higher estimates but it's not been that great over the past couple months. there's a lot of of caution out there among wall street economists. data this morning -- up 162,000 from the private sector. that's a bit better than expectations which were in the 150,000, 155,000 range. in august it was revised down to 189,000. the non-farm payroll estimates. we won't know until friday if that is higher. here's the misses we've had over the past three months. it's been 63,000 heavy compared to the bls private sector report. you can see over the course of the year it's been a little bit on the high side making economists wary about upping their estimates. what has been a little bit on the up side is jobless claims. other data that helped buoy optimism, slightly higher than claims in last month's survey week. the ism jobs manufacturing is at a thre
the u.s. economy is recovering, though. joining us now is steve murphy, a democratic strategist and managing partner at mvar, and gretchen hamill is a republican strategist and executive director at public notice. nice to have you both with us. steve, perhaps you can kick it off for us. what do you think tonight holds? >> you know, here's what barack obama has to do. the debate right now in the campaign is very heavily over economic policy going forward. that's where barack obama wants to focus. he will accuse mitt romney of seeking $4 trillion, $5 trillion in additional tax cuts for the wealthy while raising taxes on the middle class. there will be a lot of talk about that because mitt romney disputes that he would be cutting taxes -- excuse me, raising taxes on the middle class. at the same time, he's challenged. obama's challenge is not to be too cocky. with good reason, he gets cocky sometimes. he's got to be careful that he doesn't is a moment like he had in the new hampshire debate in 2008 where he said hillary is likable enough. he has to avoid that kind of characteristic
it be symantec or mcafee, that's a place i want to be. don't forget life lock this week. steve in california, steve? >> caller: sunny california beach boo-ya to you from california. >> well, you've got the edge on me. >> caller: right on highway 1. >> all right. >> caller: news corp, they're going to be splitting up maybe. hear that might be a publishing side and entertainment side -- >> 30 bucks, 30 bucks. that's where stephanie link and i think it is headed. she's co-portfolio manager with me. we think there's a $30 number that comes when you break that into the pieces. it's a win. do you yahoo!? i think ceo marisa mayer is what yahoo! needed. i think she has what it takes to turn this company around. particularly when it comes to unlocking value. and the sum of its parts. congratulations, marisa. stay with cramer. >>> coming up, industrial strength, prologis is at the center of the global supply chain. operating a portfolio of distribution centers, warehouses and commercial real estate around the world. tonight, cramer is talking to the ceo to get a real read on the economy. >>> it is tim
or that business. zynga too early to get into zynga. >> let's go to steve. steve-orino, you're up. >> caller: nice to meet you. >> how are you? >> caller: first off, i'd like to thank you for encouraging investors to manage their own money. if i can do it, anybody can do it. my question, to the t-mobile, psc deal. i would like to know, how will this affect the telecon industry? >> this is my theory on it. thank you about the kind words. i think t-mobile will merge with psc and bring it public and that will get it off telecon sheets. that's important. they don't want anything to do with t-mobile and that this is a way out. i don't think it will affect us so much. >>> ike in new york. >> caller: hey, jim. how are you? >> real good. how about you? >> caller: good, good, good. a big apple booyah to you. my question is about the comments shorting because of the taco bell competition. i find it difficult to compare the two. should i feel good about chipotle, go with yum? >> i like yum in the low 60s. i don't think it's taco bell that's causing problems at chipot chipotle. it's a little expensive. busine
're going to stop thinking about firing tim cook. i love that. steve jobs would fire tim cook. he would fire everyone involved in maps and he would berate them in front of everyone. he was not a nice man and yet everyone loved him anyway. >> lifelock posted a little below the range. maybe a little disappointment there. i might be able to see that. certainly one that we're going to watch, a big week for ipos, of course, one of the busiest. berry plastics tomorrow and pretty sizeable deals. >> and one of the things that we need to see is some pulse down here. there was a lot of social media, people got gaffed. any time you see new companies, you think, maybe i should stop shorting goldman sachs and maybe there is a sign of capital formation. p excellent show stopper yesterday. and mark cuban was so great and the destruction of the capital markets. cuban, cooperman, these guys are not idle thinkers. they are the best we have. and high frequency trading has destroyed a lot. >> and suggesting you tax intraday trades 50%, trades less than a minute, 100%, that would cut down on it in a hurry. >> no
't robust. not enough to get it 0.3 improvement in the unemployment rate. >> steve liesman is here. we were going to talk about the markets and we have rick santelli in chicago, both of them as well but steve, since you were talking during the break with ken langone. >> let steve talk to rick. >> hey, rick, how are you? >> good morning. >> so we talked. is that good? >> no. >> no, i just want to say, ken, if i look, guys could you put up the chart of the payrolls? if i look at the payroll chart and i talk about what i think is the number you guys actually believe, which is the 114,000. look at what happened, we've revised up the past couple months, we had that swoon in march, april, may and june, okay, the unemployment rate stayed about the same. look to the left, we had a couple months above 200,000. let's focus on the number you believe. and let's talk about what jack welch said. when i looked at what he said there was one number i think jack had wrong. jack was saying we need 150,000 to 200,000 jobs to lower the unemployment rate. that is, was old thinking. we've changed that number over
. >> oh, yeah, find a date. >> escorts. >> anyway, when we come back, steve liesman will join our political conversation. we have an economic fact check of last night's debate. >> who wants to be a millionaire! driver, multi-car, paid in full -- a most fulsome bounty indeed, lord jamie. thou cometh and we thy saveth! what are you doing? we doth offer so many discounts, we have some to spare. oh, you have any of those homeowners discounts? here we go. thank you. he took my shield, my lady. these are troubling times in the kingdom. more discounts than we knoweth what to do with. now that's progressive. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> the high stakes economic war of words. >> for me, this is about jobs. this is
is on board. steve, how about some of the hits, runs, and errors from those feds minutes? it didn't move the markets to any great degree today. >> i think we knew where people stood. the voting members are more or less in favor of the policy that came out, which was the one, the open-ended quantitative easing. the non-voters, there are more objections there. that's where more of the hawks are in the current rotation of the fomc. i don't think we learned anything new about there being a bigger or wider split when it comes to the new policy out there. they do have work to do, guys. they're working on the calendar date guidance. they're working on a whole bunch of other stuff that's out there. for example, the fomc individual interest rate forecast, and i think the way maria led into this, that we need new information, that's absolutely true because we don't know what happens in january. it's unclear how to calibrate the incoming economic data with what the fed is going to do in january. >> yeah, so we still have a fair amount of uncertainties on the table. yet, a little more clarity in wha
on this one. you think of people like steve balmer, jim cramer. >> but there is science behind this. >> more testosterone. >> it's the testosterone that kills the hair. you're more aggressive. you're an aggressor. >> how do you keep your hair? >> if zucker was still -- i would be nicer, he has a full head of hair so i'm not afraid right now. if some guy who is unfortunately is bald happens to end up in a powerful position, it's not because of being bald, it's in spite of being bald. toupees look like crap. you can't buy a decent toupee. >> rarely bald anymore. maybe works in business, not in politics, i don't know. kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global
today. meanwhile steve hester has called for banks to readjust back to a more customer focused approach. speaking at the london school of economic, he said lenders need to restore good customer service to regain trust of the public and rbs is the poster child for what went wrong in banking. and eric snyderman is suing jpmorgan. the suit partly the result of a federal mortgage task force formed in january. investors lost around $22 billion and more than 100 securities. jpmorgan says the suit involves actions taken at the behest of the u.s. government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that'
that microsoft propagated opting for a closed system to be controlled by one man, steve jobs. one look at the market capitalizations shows the wisdom of jobs' position. more important for this matter is the fact that microsoft's customers ended up in a business that reminds me of the uncoded free sheet paper business, the commodity where there can be no value added. yes, they, the customers, the dells and hewlett-packards, are the true losers of the bill gates movement. hewlett-packard isn't just personal computing but it's printing and consulting. i loathe the printers. as far as consulting goes, take a look how well their competitors are doing. the companies i work for, i pray they see the light and go apple. hewlett-packard is a huge company with quite a hold on the tech budgets of big corporations. but the company will eventually will ripped out of the enterprise. you can't have something that young people hate prevail forever. funny thing, younger people, they get older. and they take the reins from the relics who jammed dell and hewlett-packards down our throats. so good luck to
says listen, you know what? forget apple. steve jobs, he's gone, it doesn't matter, stick with hewlett! >> listen, we ship two pcs every second. this is an enormous business. we're seeing growth in a lot of areas. we have an entirely new design lineup. we have put real emphasis on design. and this is something hp does quite well. we have terrific product engineering. now married with a design organization. i think we've got a really good shot here, and we've gotten great response to these devices. you know, listen. we are one competitive company. we now have a sharp competitive focus. we know what we have to do to compete. and we're going to do it. i wouldn't bet against us. i wouldn't bet against the technology that this company has in the pipeline and our commitment to delivering great products and to meeting customer needs. one thing i'll tell you about hp. through all the change at the top, through all the craziness, our people have delivered for customers. we will do anything for customers. and i think that's a great strength of the company that we're going to build on. >> meg, yo
. there are lots of theories about what triggered the price rise. as steve kroft reported in 2009, many people believe it had more to do with wall street speculation than with oil companies. >> to understand what happened to the price of oil, you first have to understand the way it's traded. for years, it's been bought and sold on something called the commodities futures market. here at the new york mercantile exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a certain price at some date in the future. it was created so that farmers could gauge what their unharvested crops would be worth months in advance, so that factories could lock in the best price for raw materials and airlines could manage their fuel costs. but in late 2007, that market started to behave erratically. and when oil doubled to more than $147 a barrel, no one was more suspicious than dan gilligan. >> we have to make sure that the futures market is an honest market. >> as the president of the petroleum marketers association, he represents more t
. they have autos and trucks, very strong. they have a tremendous consumer business. steve jobs chose alcoa. and they made the skin for apple products. they have a phenomenal business, frankly, in just the kind of -- in cans. but they make alumina and aluminum. people are too long alumina in the world. construction is not good for them either. >> at the same time, if carl did not have the statistics and i asked you, should we watch alcoa to see where the s&p 500 is going to be in the next three months, what would you say? would you say, yes, it's a bellwether? >> yes. when you look at the broader economy as opposed to to health care and retail, it's autos, it's construction, it's aerospace, there's a million screws in every boeing 787 and a-300 from airbus. 1 million screws made by alcoa. they are a company that is very much involved in aerospace. and they make all the screws for the aircraft in defense. >> do you know how tired your wrist would be if you did that a million times? >> they've got the electric one. go to lowe's and save a little money. but alcoa's a good barometer. but the gr
. >> steve and rick, get along, would you? okay. where were we, maria? how's san francisco? >> everything's good. it's gorgeous here. i didn't realize how hot it would be. we're following the oracle story. they made some big announcements here about the cloud. we have a market that is about to really focus on fundamentals, i think. >> we were down about 90 points at the low. the dow is down 66 now with about 55 minutes to go today. >> don't go anywhere. we've got much more ahead on this huge edition of the "closing bell." >>> coming up, shooting from the lip. outspoken and controversial former yahoo! chief carol barts weighs in on the future of the tech giant and whether it's heading in the right direction. >>> plus, the oracle of oracle. maria sits down for an exclusive interview with larry ellison. what game changing products does the firm have in the pipeline, and what will the free-spirited ceo buy next? find out straight ahead. >>> and class action. in another exclusive, the man in charge of settling claims against convicted sexual offender jerry sandusky talks to maria about how pen
at the open system that microsoft propagated opting for a closed system to be controlled by one man, steve jobs. one look at the market capitalizations shows the wisdom of jobs' position. as apple is currently worth about 2.5 times what microsoft is worth. more important for this matter is the fact that microsoft's customers ended up in a business that reminds me of the uncoded free sheet paper business, the archetypal commodity where there can be no virtually no value added. yes, they, the customers, the dells and hewlett-packards, are the true losers of the bill gates experiment. hewlett-packard isn't just personal computing but it's printing and consulting. i loathe the printers. each machine has a different cartridge type i never remember the number when i get to the store. as far as consulting goes, take a look how well their competitors are doing. i pray that those companies that the companies i work for, one day, will see the wisdom and adopt apple so i can chuck these silly constantly freezing machines into the toxic waste pit that should be their -- that will put them elsewhere. h
problem, calls being dropped with the iphone 4 -- >> steve jobs came back from vacation in hawaii for the press conference. it was crazy. >> who's talking about that now? >> absolutely. but the both bottom line is, you don't have the halo effect on the ceo up. have the problem with the mapping apps, the labor problem with foxconn getting worse, the scuffing, which is minor, the camera which i agree is minor. it's a question of additive. it is the top dog and that's why people talk about it. but they also talk about it because it's hard to stay the top dog -- >> but do you think ultimately people stop buying the product because of all these things? >> no, i don't think they'll pay the premium going forward if you have two products with some problems in the launch, even if those problems are minor. >> it's still sold out everywhere. >> that's part of the marketing. >> i don't think so. i think we're little -- we might have shortages of components, the in-cell displays. maybe it's a supply yishgs not a demand issue. >> when is the last time apple had a product that wasn't shortage? >
. this is about qe-7 or 8, i have been riveting all morning. what mr. zells said is similar to what steve jobs said before passing away. this is a country where it is just too hard to do business in. >> yeah. i was going to say, you're not much of a golfer guy but a tennis guy, right? >> ryder was just a collapse. >> yeah. we let pollster on -- for me it was going to a shrink or something. it was come peopling but my heart was racing, i had butterflies in my stomach and didn't think it could happen. when it did, i felt hollow after it. >> i had a bunch of guys going to the eagles/giants game. you would have thought either of the games would have been talked about. the ryder cup is all i heard about. people felt bad for america. it was a patriotic thing. >> for one eagle moment, i just thought, i don't know, ma lays, i thought, we can't do this right. >> if they come in with cardigan sweaters the next time we see the golfers with the cardigan and have to start talking about turning down the thermostat, it is pool game over. >> all right. jim, thank you. we'll see you in a few minutes. >>> all r
. >> steve, thanks for that. still to come, despite stellar growth, malaysia's leader says the country still hasn't fully tapped its own potential. exclusive interview with the prime minister coming up. >> we are trying to develop the support very strong domestic economy. and the engine will come from the domestic economy. that's why we've done everything possible to encourage it necessary tick i domestic investment. >> also results of the spanish bond auction. julia is in madrid. >> thanks, beccy. expect to go well despite relatively chunky 4 billion euros at the top end. we will bring you all the latest after the break. >>> waiting on spain. ecb expected to hold steady on rates when central bankers meet today. the country's president tells cnbc that europe's policymakers must remain focused. >> about if we get bogged down discussion of what was hent by the june agreements and waste time on this kind of discussion, then it's much less likely that a company here represent system will emerge. >> madrid continues to put its faith in the hands of private investors. sfi nance minister heads to l
netflix a steve miller market. some people call me maurice, but this downgrade by bank of america -- >> i was doing the sound effects for maurice. >> i like that curious chainsaw you were doing. >> whatever i can do here. >> my wingman. >> your solid gold dancer. let's move on here to talk europe. german chancellor angela merkle visiting greece today for the first time since the european crisis began. she's meeting with greek prime minister this morning as protesters blame merkle for forcing painful cuts on greece in exchange for bailouts. meantime the imf is cutting the global forecast to 3.3% down from 3.5% and urging u.s. and european policymakers to deal with their fiscal issues or face a prolonged downturn. the imf is forecasting a contraction that underscores what we do already know and should be expecting out of the region. >> we are taking back one of the two rate hikes they had. there's not a single policy going on here. look what ireland was doing cramming down their banks. but if you can see, david, is there a single pro-growth initiative in europe that you have seen? >> no. >>
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